Panagora Asset Management Inc. raised its holdings in Kraft Heinz Co (NASDAQ:KHC) by 19.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 36,773 shares of the company’s stock after purchasing an additional 6,012 shares during the quarter. Panagora Asset Management Inc.’s holdings in Kraft Heinz were worth $1,141,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of KHC. Freestone Capital Holdings LLC acquired a new position in shares of Kraft Heinz in the first quarter worth about $9,811,000. Meridian Wealth Management LLC acquired a new position in shares of Kraft Heinz during the 1st quarter worth about $27,000. Putnam FL Investment Management Co. acquired a new position in shares of Kraft Heinz during the 2nd quarter worth about $27,000. Zions Bancorporation N.A. raised its position in shares of Kraft Heinz by 303.4% during the 2nd quarter. Zions Bancorporation N.A. now owns 960 shares of the company’s stock worth $30,000 after purchasing an additional 722 shares during the last quarter. Finally, Atlas Capital Advisors LLC acquired a new position in shares of Kraft Heinz during the 2nd quarter worth about $31,000. 56.61% of the stock is currently owned by institutional investors.
KHC stock traded down $0.07 during mid-day trading on Thursday, reaching $29.21. The company’s stock had a trading volume of 210,333 shares, compared to its average volume of 10,101,144. The company’s 50 day moving average is $27.81 and its two-hundred day moving average is $30.73. Kraft Heinz Co has a fifty-two week low of $24.86 and a fifty-two week high of $59.91. The company has a current ratio of 1.18, a quick ratio of 0.78 and a debt-to-equity ratio of 0.58. The stock has a market cap of $35.61 billion, a PE ratio of 8.30, a P/E/G ratio of 2.34 and a beta of 0.77.
Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.03. Kraft Heinz had a negative net margin of 43.40% and a positive return on equity of 6.06%. The business had revenue of $5.96 billion during the quarter, compared to analysts’ expectations of $6.07 billion. During the same quarter in the prior year, the company posted $0.90 EPS. The business’s revenue for the quarter was down 5.5% on a year-over-year basis. On average, analysts forecast that Kraft Heinz Co will post 2.67 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Wednesday, August 21st will be paid a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $1.60 annualized dividend and a dividend yield of 5.48%. Kraft Heinz’s dividend payout ratio (DPR) is 45.33%.
Several research analysts recently weighed in on KHC shares. Piper Jaffray Companies set a $26.00 price target on shares of Kraft Heinz and gave the stock a “hold” rating in a research report on Wednesday, September 4th. BidaskClub upgraded shares of Kraft Heinz from a “sell” rating to a “hold” rating in a research report on Thursday. Wells Fargo & Co restated a “hold” rating on shares of Kraft Heinz in a research report on Tuesday, September 3rd. Evercore ISI started coverage on shares of Kraft Heinz in a research report on Tuesday, June 11th. They set an “in-line” rating and a $32.00 price target for the company. Finally, Credit Suisse Group set a $26.00 price target on shares of Kraft Heinz and gave the stock a “sell” rating in a research report on Friday, August 9th. Five investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $36.05.
Kraft Heinz Company Profile
The Kraft Heinz Company manufactures and markets food and beverage products in the United States, Canada, Europe, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products. The company offers its products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Planters, Maxwell House, Capri Sun, Ore-Ida, Kool-Aid, Jell-O, Cracker Barrel, P'Tit Cheese, Tassimo, Classico, Plasmon, Pudliszki, Honig, HP, Benedicta, ABC, Master, Quero, Golden Circle, Wattie's, Glucon D, and Complan names.
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